In a press release, S&P, today cut its top-notch long-term credit rating for the US Treasury’s debt to AA plus with a negative outlook. It is the first time in modern history one of the three main ratings firms has stripped the US of its coveted AAA rating.

S&P warned last month if the US government didn’t approve a credible medium-term plan to shrink its fiscal shortfall, it would downgrade the rating even if Congress approved a debt deal that raised the Treasury’s borrowing limit.

UPDATE 2:

The Wall Street Journal:

A cornerstone of the global financial system was shaken today when officials at ratings firm Standard & Poor’s said US Treasury debt no longer deserved to be considered among the safest investments in the world.

S&P removed for the first time the triple-A rating the US has held for 70 years, saying the budget deal recently brokered in Washington didn’t do enough to address the gloomy long-term picture for America’s finances.

3 Responses to “I Told You So”

Your concerns are well founded, but I am quite certain that world leaders are not really in control of anything. Out of fear of mutual nuclear annihilation, they foolishly brought Western economies to the brink of disaster by promoting AGW.

It is no mere coincidence that Western economies and government propaganda on SSM (standard solar model), AGW (anthropologic global warming), OSN (oscillating solar neutrinos) and future energy security based on a misunderstanding of the Sun’s energy source – neutron repulsion in the solar core – are all collapsing now.

The tenacious SSM, the Standard Solar Model of a Hydrogen-filled Sun, was concluded at an international study week held in the ‘Bilderberg’ near Arnhem, Netherlands, on 17 through 21 April 1967 “with the aim of obtaining an internationally acceptable model of the solar photosphere and low chromosphere” [ O. Gingerich and Cees de Jager, “The Bilderberg Model of the Photosphere and Low Chromosphere”, Solar Physics 3, issue 1 (1968) pages 5-25]:

I read an article somewhere (I’m sure Google can still cough it up) suggesting that the USA was using the same economic policies as Zimbabewe did – and we know what happened there!

Comments are closed.

UN UDHR – Article 19

"Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers."